Anebulo Pharmaceuticals (NASDAQ:ANEB) Trading 0.8% Higher – Still a Buy?

Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB) shares traded up 0.8% during trading on Tuesday . The company traded as high as $2.41 and last traded at $2.38. 3,660 shares changed hands during trading, a decline of 80% from the average session volume of 18,691 shares. The stock had previously closed at $2.36.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Anebulo Pharmaceuticals in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $3.00.

Anebulo Pharmaceuticals Stock Up 0.8%

The company has a market capitalization of $97.77 million, a price-to-earnings ratio of -10.35 and a beta of -0.87. The business’s 50-day moving average is $2.46 and its 200-day moving average is $2.14.

Anebulo Pharmaceuticals (NASDAQ:ANEB) last announced its quarterly earnings results on Thursday, November 13th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.07. As a group, analysts expect that Anebulo Pharmaceuticals, Inc. will post -0.52 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Anebulo Pharmaceuticals stock. Goldman Sachs Group Inc. acquired a new position in shares of Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 47,954 shares of the company’s stock, valued at approximately $62,000. Goldman Sachs Group Inc. owned 0.12% of Anebulo Pharmaceuticals at the end of the most recent reporting period. 28.40% of the stock is owned by institutional investors and hedge funds.

Anebulo Pharmaceuticals Company Profile

Anebulo Pharmaceuticals, Inc, a clinical-stage biotechnology company, engages in developing solutions for people suffering from acute cannabinoid intoxication (ACI) and substance addiction. The company's lead product candidate is ANEB-001, a small molecule cannabinoid receptor antagonist, which is in a Phase II clinical trial to address the unmet medical need for a specific antidote for ACI.